According to reports, markets regulator Sebi has approved Billionbrains Garage Ventures, the parent company of stockbroking firm Groww, to begin its initial public offering (IPO) with the goal of raising between USD 700 million and USD 1 billion.
They added that the investment platform might be worth about USD 7 billion with this.
Key Highlights
- Groww secures SEBI approval for IPO, set to raise up to $1 billion in public listing.
- The offering positions Groww at a $7–8 billion valuation after a profitable FY25 and major GIC funding.
The proposed initial public offering (IPO) combines an offer for sale (OFS) element with a new issue of equity shares. Through a private pre-filing process, Billionbrains Garage Ventures submitted a draft red herring prospectus to Sebi in May.
Supported by well-known investors like Microsoft CEO Satya Nadella, Tiger Capital, and Peak XV, the company intends to use the IPO's proceeds to invest in business expansion and technological advancement.
JP Morgan India Private Ltd, Kotak Mahindra Capital Company Ltd, Citigroup Global Markets Private Ltd, Axis Capital Ltd, and Motilal Oswal Securities Ltd have already been chosen by Groww to oversee the offering.
Established in 2016, Groww is the biggest stock broker in India, with over 12.3 million active customers and a market share of over 26% as of August 2025. The company reported ₹4,056 crore in revenue and ₹1,818 cr in profit after tax for FY25, according to ROC filings.
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In order to purchase a 2.14 percent stake in Billionbrains Garage Ventures, Singapore's sovereign wealth fund GIC applied for permission from fair trade regulator CCI in May.
By choosing the confidential pre-filing route, Groww is able to postpone making the IPO details under the draft red herring prospectus (DRHP) publicly available. Indian companies seeking flexibility in their IPO plans are increasingly choosing this path.
